Credo Technology Group Holding Ltd. $CRDO Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its holdings in Credo Technology Group by 153.0%, owning 120,338 shares worth approximately $4.83 million after acquiring an additional 72,782 shares.
• Several analysts have given Credo Technology Group a strong positive outlook, with a consensus target price of $126.27 and multiple upgrades, including a price target raise to $165.00 by Barclays.
• Despite reporting quarterly earnings per share of $0.34, which missed estimates, the company's revenue surged by 273.6% year-over-year, indicating strong growth potential.

Intech Investment Management LLC grew its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 153.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 120,338 shares of the company's stock after acquiring an additional 72,782 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Credo Technology Group worth $4,833,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company's stock worth $270,000 after acquiring an additional 1,467 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group in the first quarter valued at $27,000. Teacher Retirement System of Texas lifted its holdings in shares of Credo Technology Group by 464.4% in the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock valued at $1,405,000 after buying an additional 28,788 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Credo Technology Group by 15.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,730 shares of the company's stock valued at $873,000 after buying an additional 2,947 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Credo Technology Group in the first quarter valued at $301,000. Institutional investors and hedge funds own 80.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRDO. Cowen restated a "buy" rating on shares of Credo Technology Group in a report on Thursday, September 4th. Stifel Nicolaus set a $155.00 price objective on Credo Technology Group in a report on Thursday, September 4th. Zacks Research upgraded Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Monday, September 8th. Mizuho upped their target price on Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Finally, Barclays upped their target price on Credo Technology Group from $85.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $126.27.

Credo Technology Group Trading Up 1.7%

NASDAQ:CRDO opened at $161.99 on Friday. The firm has a market capitalization of $28.02 billion, a price-to-earnings ratio of 241.78 and a beta of 2.59. Credo Technology Group Holding Ltd. has a 1-year low of $26.96 and a 1-year high of $168.42. The business's fifty day moving average price is $115.91 and its 200 day moving average price is $77.00.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The firm's quarterly revenue was up 273.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $106.87, for a total value of $16,030,500.00. Following the transaction, the chief executive officer directly owned 2,061,978 shares of the company's stock, valued at $220,363,588.86. This represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lip Bu Tan sold 171,473 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $77.90, for a total value of $13,357,746.70. Following the completion of the transaction, the director directly owned 613,725 shares in the company, valued at approximately $47,809,177.50. The trade was a 21.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,033,917 shares of company stock valued at $99,967,419 in the last three months. Insiders own 11.84% of the company's stock.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.

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